Report: College graduates in dead-end jobs growing.

Working as a professional kitty-litter scooper for Mr. Whiskers is a common occurrence these days for America's college graduates, at least according to a report from the Federal Reserve Bank of New York.

Researchers at the FRBNY claim that America's "underemployed" (a cute term defining college graduates earning meager amounts of money for a job that doesn't require their degree) rate of "young college graduates" (ages 22-27) is at 44%--the same percentage as in 1994, but higher than in 2000.

Those making $25,000 or less a year has risen to 20%, up from 15%. As The Atlantic states it, 9% of all college graduates are making less than $12.50/hr.

Mr. Whiskers drives a hard bargain.




chart: Federal Reserve Bank of New York, via The Atlantic